OIC touts cheap premium schemesThe Office of the Insurance Commission (OIC) is pushing the idea of launching micro insurance schemes with cheap premiums designed for the grassroots and retirees. The insurance industry regulator also plans to develop products such as pension insurance, lifetime insurance, long-term care insurance, insurance policies covering a variety of agricultural crops, fishing insurance, mining insurance and government property insurance. The decline was led by a 7% reduction in life insurance premiums to 147.86 billion baht. In total, the ratio of insurance premiums to GDP fell by 4.9% in the first three months, according to the OIC. The OIC forecasts total insurance premiums of 830 billion baht this year, with a possible upward revision anticipated once the new cabinet is formed.

Source: Bangkok Post June 18, 2019 01:25 UTC